Yongdao Zhiyuan Secures Tens of Millions in New Funding to Scale Production of Its First CE-TOF Mass Spectrometer

VCBeat (WeChat ID: vcbeat) has learned that Hefei Evergauge Science and Technology Co., Ltd. (hereinafter referred to as “Evergauge”) recently completedA New Round of Financing Worth Tens of Millions of Yuan。The investor in this round is the Haining Changhong Medical Industry Fund, managed by Hongda Junhe., the financing proceeds will be used by the companyFurther Expansion of Domestic and International Talent Pipelines, domestic factory construction for complete mass spectrometry systems, expansion of sales channels, and collaborative development of clinical applications,andLaying the Groundwork for the Future Product Pipeline.

Previously,Huaying Investment invested tens of millions of yuan in the company at the end of 2020.. In less than a year, the company completed two rounds of financing, demonstrating institutional investors’ strong recognition of its business progress and product prospects.

Evergauge Science and Technology is currently at a critical stage as its first mass spectrometry product is poised for scaled-up production.Dr. Xia Qiangwei, Founder of Evergauge“Evergauge Science and Technology is a global leader in the field of capillary electrophoresis coupled with mass spectrometry, with broad application prospects in biopharmaceuticals, proteomics, and metabolomics. The company boasts a comprehensive team with extensive industry experience, covering R&D of mass spectrometry hardware, development of instrument control and data software, instrument manufacturing and scaled production, development of biopharmaceutical and omics applications, as well as marketing and sales. Currently, the company’s ECE-001 capillary electrophoresis system and EMASS-II capillary electrophoresis-mass spectrometry (CE-MS) ion source have earned a strong reputation within the industry. The CE-TOF (capillary electrophoresis coupled with electrospray ionization time-of-flight mass spectrometry) products, which are about to enter large-scale production, have the potential to become a universal platform in the field of liquid biopsy. These factors have been key to gaining recognition from investors in this funding round.”

As an investor in this round,Ma Yufeng, Executive President of Hongda Junhe“Scientific instruments form the foundation for high-quality development of the national economy and innovation in basic sciences. High-end life science instruments, represented by mass spectrometry, have long been monopolized by overseas industry giants. Evergauge Science and Technology is one of the few original innovation-driven enterprises that has mastered core mass spectrometry technologies. Dr. Xia Qiang, the company’s founder, demonstrates compelling foresight into the future development trends of the mass spectrometry industry. The company’s technologies and products have gained recognition from dozens of world-leading biopharmaceutical companies, research institutions, and clinical research organizations—a distinction we consider rare and valuable. With sustained growth, Evergauge has the potential to become an industry representative for next-generation mass spectrometry technologies, aligning closely with the investment vision of our managed Haining Changhong Fund. Evergauge has remained focused on the fields of biopharmaceuticals and life sciences research, and will continue to do so. We believe that by adhering to a development strategy centered on science, driven by foundational technologies, committed to original innovation, and emphasizing independent manufacturing, the company will make significant contributions to the rise of domestically produced life science instruments, thereby creating substantial social value and economic benefits in the process.”

Previous round investors,Zhou Zhenghua, Executive Director of Huaying Investment“The rapid surge in China’s biopharmaceutical and precision medicine sectors has created an urgent market demand for scientific instruments better suited to the analysis of biological macromolecules. Evergauge Science and Technology’s CE-MS technology is a powerful solution addressing this industry pain point, which has quickly gained widespread recognition from mainstream research institutions. The company’s founder, Dr. Xia Qiangwei, completed his undergraduate studies in the Special Class for the Gifted Young at the University of Science and Technology of China. Through years of persistence and accumulation, he has transformed multiple laboratory-patented technologies into products that address real-world industrial needs, overcoming countless challenges along the way. This unwavering entrepreneurial spirit is truly admirable. With the company’s globally leading technology and the founder’s resolute character, we are confident that Evergauge Science and Technology will make significant contributions to China’s rapidly developing life sciences industry. This aligns closely with our investment philosophy of focusing on the intersection of technological innovation and healthcare.”

Evergauge Science and Technology, established in July 2018, specializes in capillary electrophoresis-mass spectrometry (CE-MS) technology, providing mass spectrometry users across biopharmaceuticals, molecular diagnostics, food safety, life sciences research, and other fields with innovative front-end separation solutions.

According to reports, Evergauge has developed high-performanceECE-001 Capillary Electrophoresis InstrumentIon Source Coupled with EMASS-II CE-MS, and has designed corresponding adapter devices for various mass spectrometers commonly available on the market, enablingSatisfactionCE-MS Coupling Needs of Existing Mass Spectrometry Users。

Furthermore, since its establishment, Evergauge Science and Technology has remained committed to independent R&D and innovation. In addition to hardware products, the company has invested substantial R&D resources into application methodologies and reagent consumables, successively launching a variety of neutral-coated and cationic-coated capillaries, electrospray emitter needles in multiple specifications, and the world’s first CR3520 cIEF-MS kit, among other products. These products are now widely used by world-class biopharmaceutical companies, academic and research institutions, and clinical research organizations. Several of these products, along with the workflows built upon them, are poised to become indispensable core components of future industry standards in the CE-MS field, representing significant industry value.

The company has been continuously investing in the development of mass spectrometry products for nearly three years, with cumulative R&D expenditures amounting to tens of millions of yuan, and has successfully developedThe first CE-TOF mass spectrometry system is about to enter mass production.

The company has experienced rapid business growth over the past year, assisting several leading biopharmaceutical companies in establishing biotherapeutic analysis and characterization platforms based on EMASS-II CE-MS technology, forging long-term collaborations with world-class medical institutions to apply CE-MS in clinical research, and recently initiating discussions with industry-leading medical laboratory companies regarding the application of CE-MS in clinical settings.

Recently, Evergauge Science and Technology exhibited at the ASMS Conference on Mass Spectrometry and Allied Topics in Philadelphia, USA, securing business opportunities with nearly one hundred biopharmaceutical companies, research institutions, analytical instrument manufacturers, and leading liquid biopsy firms. Moving forward, Evergauge will focus on the construction of mass spectrometry manufacturing facilities, the establishment of a scaled production system for CE-TOF integrated instruments, the development of serum metabolomics methodology frameworks, and the expansion of its existing biopharmaceutical and proteomics operations.

Dr. Xia Qiang stated, “Haining Changhong, managed by Hongda Junhe, the lead investor in this round, is a highly professional healthcare industry fund. The resources accumulated by Hongda Junhe in the industry and its existing portfolio have provided the company with valuable technical reserves in cutting-edge fields such as advanced manufacturing of medical devices, microfluidics technology, and single-cell technology. These assets will be highly beneficial to Evergauge Science and Technology’s current mass production of complete mass spectrometry systems, medical device registration, and future entry into single-cell mass spectrometry omics.”

“Evergauge,” a name symbolizing “pursuing the path of mass spectrometry to extend the reach of life,” embodies the vision that, in the near future, Evergauge will leverage its mass spectrometry technologies to elucidate the principles of life, enable early disease diagnosis, and ultimately treat diseases and save lives.

Hefei Evergauge Science and Technology Co., Ltd. was established in July 2018. The company originated from US-based CMP Mass Spectrometry Technologies and Beijing Spectrum Source Biotechnology Co., Ltd. Evergauge possesses the world’s most advanced CE-MS technology. The company provides cutting-edge front-end separation technologies for mass spectrometry users across various fields, including biopharmaceuticals, molecular diagnostics, food safety, and life sciences research. Evergauge offers a full spectrum of CE-MS products and services, including CE instruments, CE-MS interface ion sources, CE-TOF mass spectrometry systems, capillaries and emitter consumables for diverse separation and detection conditions, and customized method development services.

Hongda Junhe Capital is an investment institution with deep industrial backgrounds, established by Hongda Holding Group, a top 500 private enterprise in China. It possesses abundant industrial resources and focuses on strategic layouts in new kinetic energy industries driving China’s economic transformation and upgrading, including healthcare, high-end manufacturing, new energy, new materials, and automotive sectors. The firm primarily invests in growth-stage venture capital (VC) and private equity (PE) projects. Its team has cumulatively invested over RMB 3 billion, with successful investments in companies such as CATL (300750), Supcon Technology (688777), Zhuhai CosMX (688772), Dekang Medical, Shengshi Technology, Baiweishen Technology, and Chuanghuai Medical.

Haining Changhong is a medical device fund jointly initiated by Hongda Holding Group and the Administrative Committee of Haining Chang’an High-Tech Zone, and managed by Hongda Junhe Capital. With a total fund size of RMB 1 billion, it leverages the Hangzhou Bay Smart Medical Industry Park, invested in and constructed by Hongda Holding Group, as well as the Zhejiang Provincial Medical Device Testing, Evaluation, and Innovation Service Complex located within the park, to provide comprehensive support to its portfolio companies.

Since its establishment in 2016, Huaying Investment has consistently focused on sectors such as healthcare, hard technology, and new consumption, seizing opportunities arising from transformative societal shifts. Adhering to the investment philosophy of “thinking like entrepreneurs,” the firm is distinguished by its strategy of “investing early, investing in small-scale ventures, and investing in technology,” boasting unique and outstanding capabilities in early- to mid-stage project investments. The investment team possesses profound insights into technological innovation and industrial transformation, with key members graduating from top-tier institutions including Tsinghua University, the Special Class for the Gifted Young at the University of Science and Technology of China, and Huazhong University of Science and Technology.

Based in the Hefei High-Tech Industrial Development Zone, the Anhui Huaying Smart IoT Fund leverages the industrial chain advantages of Huami Technology, a leading enterprise in the Internet of Things (IoT) and smart wearables. The fund aggregates innovative achievements from faculty and students of the University of Science and Technology of China (USTC) as well as its global alumni network, while deeply integrating with Hefei’s abundant local industrial resources. Since its establishment in June 2019, the fund has invested in nearly 30 projects across the fields of IoT hard technology, healthcare, and smart living. Its portfolio companies have achieved deep synergy with local industries in key areas such as new energy vehicle sensors and innovative medical devices.